Lease
What does it mean
A lease is a contract between two parties, the landlord (lessor) and the tenant (lessee), where the landlord grants access to an asset for a specific period. The tenant makes periodic payments to the landlord throughout the lease duration.
Why does it matter
The Tenant/Landlord relationship is a very common agreement in business; so it is best to understand the terminology because it will come up frequently.
Real Estate Leases can come in 3 common flavors:
Other Relevant Terms
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